...EXECUTIVE SUMMARY "Macroenvironmental forces The larger societal forces that affect the whole microenvironment - demographic, economic, natural, technological, political and cultural forces." - Kotler et al Macroenvironmental forces need to be studied by organisations as they can both provide opportunities and pose threats. The fast-food industry is a consumer service; two organisations that operate in the fast-food industry are McDonald's and Hungry Jack's. McDonald's was chosen because it is the primary operator in this market and holds the greatest market share. Hungry Jack's was chosen because the product they offer is the most similar to McDonald's. I thought it would be interesting to compare marketing strategies of two organisations that offer a fairly similar product. McDonald's is the market leader both in Australia and throughout the world. Hungry Jack's is positioned more as a market follower. Companies use target marketing to tailor for specific markets. There are three components involved in target marketing: market segmentation, market targeting and market positioning. McDonald's primary target markets are seniors, adults and teenagers however the most heavily targeted segment is children. Hungry Jack's also essentially segment their market using demographic variables. The final step in target marketing is developing a marketing mix. These tools are also known as the four P's and in the case of services, the seven P's. They are product, price,...
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...• HISTORY The Coca-Cola created in 1886 in the company's Eagle Drug and Substance in the pharmacy in Columbus, Georgia by John Pemberton, originally as a coca wine called Pemberton's French Wine Coca. Then, when Atlanta and Fulton County passed a law to ban, Pemberton defended himself creating Coca-Cola, a version without alcohol. First it started to sale at Jacob's Pharmacy, which was sold as a medicine that relieves headaches and nausea, the medicine was popular in the U.S., because in that moment people belief that carbonated water was good for health. Frank Robinson gave the name Coca-Cola, and then the actual logo of the brand was designed. When the drink became famous in 1886 Pemberton was offered to sell the product throughout the United States, of course he accepted the offer he sold the formula and his company in $ 23,300 dollars, and later he opened several containers in the United States. Later, a group of lawyers bought the company and it became an international company. Since there, the company became The Coca-Cola. • MACRO-ENVIRONMENT The Coca-Cola is a macro company, because like most of the companies, follow the policies and regulations that the government established. These kinds of companies contribute to the economic success by giving employs for people in the community, paying taxes to governments and suppliers of goods, services and capital goods and support programs for help. The Coca-Cola system has more than 900 plants in the whole world. The ingredients...
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...Levin Human Capital Consulting Group Macro Environmental Study in China Macro Environmental Study in China 40 Yr-on-yr % Change of GDP Executive Summary The National People's Congress The People's Republic of China The Chairman The Central People’s Government The Central Military Commission The Supreme People's Court The people's procuratorates 30 20 10 0 1990 1992 1994 1996 1998 2000 2002 2004 2004 507 2265 32132 1500 Categories Low-income country $ Medium-income country $ High-income country $ China $ 1990 356 1170 19617 320 2000 383 1723 26528 930 2002 394 1770 26130 1100 2003 439 1938 28195 1270 GDP in Expenditure 10000 8000 6000 4000 billion RMB Private Consumption Government Expenditure Gross Dom. Fixed Capt. Local Congresses and Governments Autonomous Regions Economic Scenario Gross Domestic Production 2000 0 1991 1993 1995 1997 1999 2001 2003 -2000 Pillar Industries GDP 25000 20000 15000 10000 Billion RMB 12000 10000 8000 6000 4000 Billion RMB Types of Industries 2005 Net Im & Export 1st Ind. 2nd Ind. 3rd Ind. 5000 0 1990 1992 1994 1996 1998 2000 2002 2004 2006 2000 0 1990 1992 1994 1996 1998 2000 2002 2004 % Share In Different Areas Southwest 9% CentralSouth 16% Northwest 11% North China 22% Northeast 18% East China 24% 2006 2006 2005 580 2640 35131 1740 -1- Levin Human Capital Consulting Group Macro Environmental Study in China...
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...conduct environmental scanning unless marketing strategies are changed to fit with the environment. A company’s marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. 1 5/3/2014 Components of the Marketing Environment Macro-environment Micro-environment Macroenvironment: Demographic Changing age structure of the population Changing family structure The larger societal forces The forces close to the that affect the whole company that affect its ability to serve its customers: microenvironment: Political Company Economic Competitors Demographic Suppliers Cultural Marketing Intermediaries Technological Customers Natural Publics Increasing diversity Better-educated, more white-collar, more professional population Geographic shifts in population Macroenvironment: Demographic Demography: The study of human population in terms of size, density, location, age, gender, race, occupation and other statistics. Macroenvironment: Demographic Changing Age Structure of the Population Age Group: Baby Boomers Born between 1946 and 1964, people born post– World War II. 1/5 of Australian population. Cherish youth, convenience and individuality. Individualism has led to a personalised economy. Changing Age Structure of the...
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...The Walt Disney Company: Business Environments Daniel A. Parra Lozano Lynn University The Walt Disney Company: Business Environments The success of organizations within their specific market niches and competitive environments is based on a myriad of factors, both internal and external. The detailed overview and analysis of these factors exists within the general business environments of the organization. In order to maintain a leading competitive advantage, managers on every level must actively assess these environments and markets, while making the most appropriate decisions that will allow the organization to sustain leverage when faced with high environmental dynamism and/or complexities. The Walt Disney Company has clearly proven to withstand the test of time, through dedicated market analysis and environmental scanning. Internal Environment From the company motto, corporate credo, mission and visions statements, to the overall culture and climate of an organization, the internal environment defines the intramural business atmosphere of the entity. The Walt Disney Company’s strong internal environment and clear strategic intent makes Disney an evident leader in its industry. The Walt Disney Company also basks in unparallel name recognition, experienced upper management, and a conglomerate diversification of goods, products, and services offered. Developing strategic management based on a company’s core competencies, makes for a constant, yet not necessarily evolving...
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...Approaches and Business Environments The human race has always striven to figure out the best way to manage certain aspects of life; whether it be in the home, in recreation or in work. The last few decades people have been systematically researching on how to best improve management in the workplace. They want to make businesses run faster, produce more, and produce better quality products. Business owners and managers have finally developed four contemporary approaches to management; the sociotechnical systems theory, quantitative management, organizational behavior, and the systems theory, and they all differ. These four approaches to management are also relevant in the three environments that a business contains which are the macroenvironment, the competitive environment and the internal environment. As mentioned previously there are four contemporary approaches to management. The first being sociotechnical systems theory which is a combination of several classical approaches. This theory suggests that organizations are effective when their employees (the social system) have the right tools, training and knowledge (the technical system) to make products and services that are valued by their customer (Bateman 35). The second approach is quantitative management. This approach was developed after Word War II and emphasizes the application of quantitative analysis to management decisions and problems. It helps a manager make a decision by developing formal mathematical models...
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... Promotion in terms of advertising, marketing etc. Marketing Strategies in the next 12 months of existing brand of a certain product Classify consumer products in terms of the four categories known as convenience consumer product, shopping consumer product, specialty consumer product and unsought consumer product. Market Segmentation in terms of age group Microenvironment and macroenvironment Marketing Plan Executive Summary Background and Mission Statement Situational Analysis SWOT Objectives Target Market Selection Brand Positioning Strategic Marketing Mix which consists of the 4Ps Product that has three levels of product Price Place in terms of distribution channels Promotion in terms of advertising, marketing etc. Marketing Strategies in the next 12 months of existing brand of a certain product Classify consumer products in terms of the four categories known as convenience consumer product, shopping consumer product, specialty consumer product and unsought consumer product. Market Segmentation in terms of age group Microenvironment and macroenvironment Marketing Plan Executive Summary Background and Mission Statement Situational Analysis SWOT Objectives Target Market Selection Brand Positioning Strategic Marketing Mix which consists of the 4Ps Product that has three levels of product Price Place in terms of distribution channels Promotion in terms of advertising, marketing etc. Marketing Strategies in the next...
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...everything that surrounds a system which it will give an impact either positive impact or negative impact on the system’s ability to operate effectively and efficiently. The importances of business environment are to determine and identify the interaction between the opportunities and threats to the business. It helps the business enterprises for meeting the challenges successfully. Next, business environment also helps to identify the organization’s strength and weakness in view of the technological and global developments. With the implementation of business environment, the image of an organization can improve by showing their sensitivity to the work environment. There are three important of components in business environment such as the macroenvironment, the microenvironment and the internal environment. The example of organization in the business environment is The Chicken Rice Shop (TRCS). The logo of The Chicken Rice Shop The history of The Chicken Rice Shop was starting on 18th June 2000, the first restaurant of The Chicken Rice Shop was opened and the response was overwhelming. Nowadays, there are 60 and more outlets which has a wide network of family restaurants strategically located in major shopping malls, business and residential areas across all markets in Malaysia. The chicken rice who serves by TRCS is authentic “grandmother’s traditional Hainanese secret recipe” brought down from generations and maternal grandmother’s treasured recipe from Penang...
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...TERM PAPER OUTLINE EXECUTIVE SUMMARY MODULE ONE 1. Table of Contents 2. Acknowledgements 3. Introduction (include reason for paper and choice of company) MODULE TWO – External Environment Analysis 1. Definition of Industry (include overview) 2. Analysis of Present Task Environment 3. Analysis of Potential Changes in the Macroenvironment 4. Threats and Opportunities Basis: 1. Effect of potential changes on the macroenvironment on the barriers and determinants of the task environment. 2. The effect on the forces of the task environment. 3. The conclusion on whether the potential change on the macro is a threat or opportunity. Note: The potential changes in the macroenvironment that will cause a change in the in the task environment will be a threat or an opportunity to the industry. 5. Industry and competitive analysis. 6.1 Strategic map 6.2 Market Definition 6.3 Market Size 6. Broader Societal Expectations 6.1 Corporate Social Responsibility MODULE THREE – Analysis of Internal Environment 1. Overview of the company 2. Financial Analysis 2.1 Financial Ratios 3. Value Chain Analysis 4. Strengths and Weaknesses 4.1 Describe the Strengths and weaknesses 4.2 State the basis for each strength and weakness. Basis is from Financial and Value Chain Analysis 5. Personal values MODULE FOUR – Strategic Plan 1. Vision (include mission) 2. Objectives – Financial,...
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...------------------------------------------------- Market environment From Wikipedia, the free encyclopedia | This article is an orphan, as no other articles link to it. Please introduce links to this page from related articles; suggestions may be available. (February 2009) | | This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (November 2007) | The market environment is a marketing term and refers to factors and forces that affect a firm’s ability to build and maintain successful relationships with customers.Three levels of the environmment are: Micro (internal) environment - ma forces within the company that affect its ability to serve its customers. Meso environment – the industry in which a company operates and the industry’s market(s). Macro (national) environment - larger societal forces that affect the microenvironment.[1] Contents [hide] * 1 Micro-Environment (internal environment) * 2 Macro-Environment (external environment) * 3 Meso-Environment * 4 References * 5 External Resources | ------------------------------------------------- [edit]Micro-Environment (internal environment) The microenvironment refers to the forces that are close to the company and affect its ability to serve its customers. It includes the company itself, its suppliers, marketing intermediaries, customer markets, competitors, and publics...
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...Strategic Management: Formulation and Implementation RYSZARD BARNAT, LLM., DBA, PHD (STRAT. MGMT) Strategic Management > STRATEGY FORMULATION > Business And Its Environment Business And Its Environment The Factors That Shape Strategy Analysis Of The Macroenvironment Political And Regulatory Forces Economic Forces Technological Forces Social Forces Analysis Of The Industry The Elements Of Industries Structure Threat Of New Entrants Threat Of Substitutes Bargaining Power Of Buyers Bargaining Power Of Suppliers Rivalry Among Existing Firms A Framework For Competitor Analysis Future Goals Assumptions History As And Indicator Of Goals And Assumptions Current Strategy Capabilities Putting The Four Components Together Structural Analysis Within Industries Firm's Profitability Industries Change Internal Organizational Analysis The Areas That Most Businesses Should Analyze Environmental Scanning Forecasting The Environment SUMMARY Analysis Of The Macroenvironment An organizations ignores the macroenvironment at its own great peril. Many studies support the concept that there are needs to be a link between the organization's strategic decisions and its environment. All organizations are affected by four macroenvironmental forces: political-legal, economic, technological, and social. Political And Regulatory Forces Political-legal forces include the outcomes of elections, legislation, and court judgments, as well as the decisions rendered by various commissions and agencies. The political...
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...Select an industry with which you are at least somewhat familiar. Utilize the Midway College online library and or www.findarticles.com to identify some of the important macroenvironmental influences faced by competitors in the industry. In addition, identify some of the important social and technological influences on the firm’s industry. Share how the macroenvironment impacts the strategic planning for the selected organization. Obtaining affordable, quality child day care is a major concern for many parents. The industry consists of facilities that provide paid care for infants, toddlers, preschool an older children in before and after school programs. There are two main types of child care which makes up the child care service industry: center-based care and family child care. Market research indicates when parents rejoin the workforce the demand for child care services grow. Child care plays a key role in allowing working mothers with school-aged children to remain in the labor force. In Kentucky, there is 168,460 (26.9%) children under age 15 who are in paid child care facilities; and 94,586 (16.6%) of 5 and under who are in a paid child care setting. There are 7,580 child care facilities in Kentucky with a revenue stream of $429.6 million dollars. The industry employs some 19,955 individuals supporting an additional 6,300 jobs in other industry sector across Kentucky. Macroenvironmental influences for the child care center includes political, technological, economics...
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...Describe the elements of a company’s marketing environment and why marketers play a critical role in tracking environmental trends and spotting opportunities. The marketing environment surrounds and impacts upon the organization. There are three key elements to the marketing environment which are the internal environment, the microenvironment and the macroenvironment .Marketers build both internal and external relationships. Marketers aim to deliver value to satisfied customers, so we need to assess and evaluate our internal business/corporate environment and our external environment which is subdivided into micro and macro. The internal environment refers to the company and its existing products, marketing strategies. It also includes the strengths of the company with regard to manufacturing abilities, distribution capacities, and marketing abilities. Internal resources should also be considered while formulating a marketing strategy .Every manager in an organization observes the outside environment with disciplined methods marketing research and marketing intelligence for collecting information about the marketing environment. They also spend more time in customer and competitor environments. By carefully studying the environment, marketers can adapt their strategies to meet new marketplace challenges and opportunities. Example of how the internal environment would impact a company such as Walmart. We are looking at the immediate local influences which might include its...
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...constant supervision. Team “X” perspective is referred to the self-fulfilling prophecy, using negativity as a motivation for production. Team “Y” uses a culture of positive, advocating and individual motivations and challenges, and produces superior results. The Systems Theory approach depends heavily on the organizations relationship with outside contributions. This approach thrives on open systems, taking raw materials, human resources and capital and transform them into whatever product they are marketing. This stresses that one organization is part of a subsystem of organizations. Along with management strategies, all organizations have varying environments which they work within. The outermost environment in management is the macroenvironment. This layer includes all of the laws and regulations for the...
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...MKT10007 FUNDAMENTALS OF MARKETING ASSIGNMENT TEMPLATE Instructions for using this template: You can’t rely solely on this document when completing your assignment. You will need to also: * Check the Assessment Criteria / Breakdown of marks. * Study the learning materials closely. Make sure you apply what you learn to this report. * Search for good sources using the Library and cite them throughout the report to support your explanations. Before submitting your assignment * Delete this page * Delete all red text * Replace highlighted text with your own words Before submitting your assignment * Delete this page * Delete all red text * Replace highlighted text with your own words Notes: * It is not compulsory to use the format of this template – it is provided to help those who are new to this type of document. * This document is not intended to serve as an ideal format for all reports – always check specific assignment requirements. Include an assessment coversheet at the front of every assessment submitted. Please ensure that all sections are completed correctly before submission. | MKT10007 ASSIGNMENT COVER SHEET | DETAILS OF ASSIGNMENT | | STUDENT NAME: | ID: | | | UNIT CODE * NAME | MKT10007 Fundamentals of Marketing | ASSESSMENT TITLE /TOPIC | | TUTOR’S NAME: | | DATE OF SUBMISSION: | | | | DECLARATION | | Enter Y / N | I declare that:(the first four boxes must be completed...
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